oil reserves

US energy chief to seek $20 billion to refill oil reserve, Bloomberg reports

March 7, 2025

(Reuters) – U.S. Energy Secretary Chris Wright estimates it would take $20 billion and years to accomplish President Donald Trump’s goal of refilling the Strategic Petroleum Reserve to its maximum capacity, the Energy Department said on Friday. Former President Joe Biden’s administration sold nearly 300 million barrels from the reserve including a 180-million-barrel sale in 2022 after Russia invaded Ukraine.

Price impact from oil reserves release unlikely to last long- JP Morgan

November 24, 2021

Nasdaq Nov 24 – Any impact on oil prices from a release of crude from strategic petroleum reserves by the United States and other countries may not be sustained for long, JP Morgan Global Commodities Research said on Wednesday. The United States is to release of millions of barrels of oil from strategic reserves in coordination with China, India, South

Biden orders release of oil reserves, in a challenge to OPEC

November 23, 2021

World Oil WASHINGTON (Bloomberg) –The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India, South Korea and the UK — an unprecedented, coordinated attempt by the world’s largest oil consumers to tame prices that risks a backlash by OPEC+. But the oil market was initially underwhelmed by the details of the

Biden’s National Economic Council can’t settle on a plan as energy prices spike

November 12, 2021

World Oil (Bloomberg) –One hour after U.S. government data showed on Wednesday that American inflation had soared to a 31-year high, President Joe Biden vowed to fight the surge as “a top priority.” Key to his administration’s response, Biden said in a statement, would be addressing the rising cost of energy — what he described as “the largest share of

Tapping Mexico’s Onshore Oil & Gas Reserves almost a Reality for Canadian Operator IFR

March 8, 2018

IFR on target to be first outside company to drill onshore in Mexico in 80 years, anticipates April spud The Calgary-based company announced this morning that its Mexican joint venture Tonalli Energia is mobilizing a rig to begin drilling the Tecolutla block (onshore) in Mexico. The company said the partners had received the final authorization necessary to commence drilling from

US energy chief to seek $20 billion to refill oil reserve, Bloomberg reports

Price impact from oil reserves release unlikely to last long- JP Morgan

Biden orders release of oil reserves, in a challenge to OPEC

Biden’s National Economic Council can’t settle on a plan as energy prices spike

Tapping Mexico’s Onshore Oil & Gas Reserves almost a Reality for Canadian Operator IFR

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